Hope Bancorp (NASDAQ:HOPE) EVP Jason Kim Sells 1,000 Shares of Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Jason Kim sold 1,000 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $11.41, for a total value of $11,410.00. Following the completion of the transaction, the executive vice president directly owned 79,666 shares of the company’s stock, valued at approximately $908,989.06. This trade represents a 1.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hope Bancorp Stock Performance

Hope Bancorp stock traded down $0.06 during midday trading on Friday, hitting $11.52. 960,893 shares of the company were exchanged, compared to its average volume of 998,269. The business has a fifty day simple moving average of $10.64 and a two-hundred day simple moving average of $10.67. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $1.48 billion, a PE ratio of 29.54 and a beta of 0.89. Hope Bancorp, Inc. has a fifty-two week low of $8.82 and a fifty-two week high of $13.45.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $142.03 million during the quarter, compared to analysts’ expectations of $138.87 million. Hope Bancorp had a return on equity of 4.70% and a net margin of 4.89%.During the same quarter in the prior year, the company posted $0.21 EPS. On average, sell-side analysts forecast that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 7th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Friday, November 7th. Hope Bancorp’s dividend payout ratio is presently 143.59%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HOPE shares. DA Davidson set a $14.50 price target on Hope Bancorp in a research note on Wednesday, October 29th. Wall Street Zen raised Hope Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Zacks Research raised Hope Bancorp from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Hope Bancorp in a research note on Monday. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.25.

Hedge Funds Weigh In On Hope Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC Bancorp USA Inc. acquired a new stake in shares of Hope Bancorp in the third quarter worth approximately $142,000. CANADA LIFE ASSURANCE Co lifted its holdings in Hope Bancorp by 1.9% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 117,691 shares of the financial services provider’s stock valued at $1,259,000 after purchasing an additional 2,162 shares in the last quarter. Caxton Associates LLP boosted its stake in Hope Bancorp by 61.9% during the 3rd quarter. Caxton Associates LLP now owns 45,972 shares of the financial services provider’s stock worth $495,000 after purchasing an additional 17,581 shares during the last quarter. Numerai GP LLC grew its holdings in shares of Hope Bancorp by 20.3% during the third quarter. Numerai GP LLC now owns 119,463 shares of the financial services provider’s stock worth $1,287,000 after buying an additional 20,192 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Hope Bancorp by 50.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 20,712 shares of the financial services provider’s stock valued at $223,000 after buying an additional 6,978 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

About Hope Bancorp

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides retail and commercial banking services for businesses and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. The company also offers loans comprising commercial and industrial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance, other business-related financing, and loans syndication services; commercial real estate loans; residential mortgage loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, automobile, credit card, and personal loans.